Kalika Power’s IPO issue receives positive response from the investors; Oversubscribes by 7 times to collect applications worth Rs 83.93 crore

The IPO of Kalika Power Company Limited has received a positive response from the investors. Till the last day, the issue has collected Rs 83.93 crore.

As per the information provided by the issue manger, Global IME Capital, 1,22,000 applicants had applied for 83.93 lakh unit shares. The IPO issue has been oversubscribed by about 7 times.

Out of the total 12 lakh units, 24,000 units are for the employees of the company and 60,000 units for the mutual funds. So, for the general public, the company is issuing 11,16,000 units.

Kathmandu Capital Market Limited and Global IME Capital have been appointed as the issue managers for the issue.

ICRA Nepal has assigned Grade 4 rating to the IPO issuance indicating below average fundamentals.

Previously, the hydropower company had already issued 6 lakh unit shares for the locals of Gorkha district.

After the issuance of 12 lakh unit shares, the paid-up capital of the company will reach Rs 60 crore.

Kalika Power has been operating a 6 MW Dorodi A Hydropower Project in Gorkha District.